The principal reasons for the Great Depression are :
- the decade of the 1920s' speculative boom.
- 1929 stock market collapse
- Problems with overproduction and oversupply.
- Lack of demand and rising unemployment
- mistakes made by the Federal Reserve.
- A limited presidential response.
What was the great depression?
Between 1929 to 1939, there was a severe global economic crisis known as the Great Depression. It started as a result of a sharp decline in American stock values.
The Great Depression Facts:
- Between 1929 and 1933, the stock market experienced an almost 90 percent loss in value.
- During the Great Depression, 11,000 banks failed, leaving many people without any savings.
- Around 3% of the population was unemployed in 1929.
The Great Depression saw a 40% decline in the average family income.
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